Breaking

Wednesday, 20 August 2014

Markets open firm; Nifty tops 7,900

The markets have opened on a firm note tracking positive global cues. Receding geo political tension in Ukraine and Gaza also aided bullish sentiment. Index heavyweight HDFC Bank and IT majors Infosys and TCS are contributing the most to the rise on the Sensex.

At 9.15 AM, the Sensex is up 69 points at 26,489 and the Nifty has climbed 17 points to trade at 7914.

Broader markets are in line with the large counterparts both the mid and smallcap indices have surged by 0.2 and 0.4%, each.

The market breadth is positive with 619 stocks advancing while 248 stocks declining on BSE.

Markets have Asian stocks were steady on Wednesday after strong U.S. housing data lifted Wall Street shares, helping nudge Treasury yields higher and keeping the dollar well bid against the euro and yen.

Global equities have attracted funds in recent sessions on expectations major central banks, including the U.S. Federal Reserve, will continue to retain their easy money policies for a while. Tokyo's Nikkei gained 0.1 percent.

MSCI's broadest index of Asia-Pacific shares outside Japan was flat.

Wall Street drew support from robust housing data on Tuesday, which pushed up Treasury yields and drove the dollar to a nine-month high against the euro.